Listen
(3 min)
1542 ET – Crude futures rise for the first time in four sessions, supported by a rally in equities, while reports of progress in renewed U.S. efforts toward a Russia-Ukraine peace deal keep the war-risk premium subdued. WTI settles up 1.3% at $58.84 a barrel, but “needs to scrap its way back to levels above $60 before worrying about technical resistance levels above,” Mizuho’s Robert Yawger says in a note. The continued drop in diesel crack spreads remains a weight for crude, he adds. “If the product coming out of the refinery is too cheap, then the refiner will eventually slow the run rate, buy less crude oil, and wait for brighter days.” Brent rises 1.3% to $63.37 a barrel. ([email protected])
Russia-Ukraine Peace Efforts Keep Crude in the Red
1002 ET – Oil futures are lower with the market focusing on U.S. efforts to bring about peace talks between Russia and Ukraine. “If a peace deal is reached it is assumed most sanctions on Russia would be lifted,” Dennis Kissler of BOK Financial says in a note. Meanwhile, Russian crude exports have been lowered with some buyers turning away, and China is reported buying more Middle East crude, he adds. But crude prices “normally work lower into mid-December.” WTI is off 0.3% at $57.91 a barrel and Brent is down 0.3% at $62.37.([email protected])
Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
